—-NGXASI stands at +31.40% (YTD); Naira depreciated by 2.72% to close at N1,459.73

May 9, 2024/Futureview Research

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EQUITIES MARKET:

Bulls regained dominance in the domestic stock exchange during today’s trading session, driving the market into positive territory as the NGX All-Share Index rose by 3 basis points, closing at 98,255.72 points, up from the previous session’s 98,223.97 points

The positive upturn was propelled by investors renewed interest in bellwether stocks such as: ACCESSCORP (+0.86%), GTCO (+5.26%), ZENITHBANK (0.59%), TRANSCORP (2.78%), OANDO (4.90%)   and 18 others.

As a result the year-to-date return rose to 31.40%. In the same vein, the market capitalization gained 3bps to settle at 55,570.05 as investor’s wealth rose by ₦ 17.96 billion.

Market activity for the day was positive as volume traded increased by 111.99% to 676.42 million units while value traded increased by 81.56% to N16.66 billion, respectively.

We expect the equities market to end the week on a positive note in absence of any negative catalyst.

CURRENCY MARKET:

The Nigerian Naira depreciated by 2.72% against US Dollar in the NAFEM Window, closing at a rate of ₦1,459.73.